Cavco Industries, Inc. (NASDAQ:CVCO) Director Sells $364,170.00 in Stock

Cavco Industries, Inc. (NASDAQ:CVCO) Director Susan L. Blount sold 750 shares of Cavco Industries stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $485.56, for a total value of $364,170.00. Following the completion of the transaction, the director now directly owns 2,086 shares of the company’s stock, valued at $1,012,878.16. This represents a 26.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Cavco Industries Stock Down 2.2 %

Shares of CVCO stock opened at $442.22 on Friday. The firm has a market cap of $3.59 billion, a price-to-earnings ratio of 25.00 and a beta of 1.29. Cavco Industries, Inc. has a 12 month low of $304.10 and a 12 month high of $544.08. The stock has a 50-day moving average price of $467.14 and a 200 day moving average price of $415.36.

Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings results on Thursday, October 31st. The construction company reported $5.28 EPS for the quarter, topping the consensus estimate of $4.70 by $0.58. Cavco Industries had a net margin of 8.00% and a return on equity of 14.38%. The company had revenue of $507.46 million during the quarter, compared to analysts’ expectations of $480.10 million. During the same quarter in the previous year, the company earned $4.76 EPS. Sell-side analysts predict that Cavco Industries, Inc. will post 18 earnings per share for the current fiscal year.

Institutional Trading of Cavco Industries

Several institutional investors and hedge funds have recently made changes to their positions in CVCO. Thrivent Financial for Lutherans grew its stake in shares of Cavco Industries by 37.1% during the second quarter. Thrivent Financial for Lutherans now owns 9,456 shares of the construction company’s stock worth $3,274,000 after purchasing an additional 2,558 shares during the period. Quest Partners LLC acquired a new position in shares of Cavco Industries during the 2nd quarter worth about $931,000. Fisher Asset Management LLC increased its stake in shares of Cavco Industries by 8.5% in the 3rd quarter. Fisher Asset Management LLC now owns 71,487 shares of the construction company’s stock valued at $30,614,000 after acquiring an additional 5,620 shares during the last quarter. Blue Trust Inc. raised its position in shares of Cavco Industries by 90.0% in the 3rd quarter. Blue Trust Inc. now owns 190 shares of the construction company’s stock valued at $81,000 after acquiring an additional 90 shares during the period. Finally, Cerity Partners LLC boosted its stake in Cavco Industries by 91.8% during the 3rd quarter. Cerity Partners LLC now owns 46,915 shares of the construction company’s stock worth $20,091,000 after acquiring an additional 22,451 shares during the last quarter. Institutional investors own 95.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. StockNews.com downgraded shares of Cavco Industries from a “buy” rating to a “hold” rating in a research note on Friday. Wedbush lowered shares of Cavco Industries from an “outperform” rating to a “neutral” rating and set a $480.00 price target for the company. in a report on Tuesday, December 3rd. Finally, Craig Hallum boosted their price objective on shares of Cavco Industries from $422.00 to $495.00 and gave the stock a “buy” rating in a research report on Monday, November 4th.

About Cavco Industries

Cavco Industries, Inc designs, produces, and retails factory-built homes primarily in the United States. It operates in two segments, Factory-Built Housing and Financial Services. The company markets its factory-built homes under the Cavco, Fleetwood, Palm Harbor, Nationwide, Fairmont, Friendship, Chariot Eagle, Destiny, Commodore, Colony, Pennwest, R-Anell, Manorwood, MidCountry, and Solitaire brands.